Schroders 35% profit rise in 2007
Schroders Plc fund managers announced a 35 per cent rise in pre-tax profit for the full year 2007 to 392.5 million (2006: 290.0 million).
Pearson 2007 profit tops forecastsThe company also reported asset management pre-tax profit of 266.5 million (2006: 190.0 million), while private equity and group pre-tax profit was up to 41.3 million (2006: 26.9 million)
Schroders said that its basic earnings per share increased 36 per cent to 104.8 pence (2006: 17.5 pence per share). The company's final dividend increased to 21.0 pence per share (2006: 17.5 pence per share), taking the full year dividend to 30 pence per share (2006: 25.0 pence per share).
The company said that its funds under management were valued at 139.1 billion, up from 128.5 billion at the end of 2006.
The company said in a statement, "2007 was a year of continued progress for Schroders in spite of the recent turbulence in financial markets. This reflected the diversity of our business by region, by client channel and by product."
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